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. it failed. the answer, as i indicated in my testimony, is to cut the government insurance down to 30% from 100%, so that the lender is on risk and then keep the premiums so that you can recapitalize the funds to four percent or five percent. that way, you would start getting yourself into a responsible economic program, as opposed to worrying about supporting the market if it needs a support, by inflating home prices. >> thank you. i am going to jump to another area, i am only in one minute 45 seconds. i was the ranking member on the housing subcommittee with ms. waters when she was the chair. we had were than a few meetings of this impending doom. this has been talked about in our committee for years. this direction that the capital ratio is headed. the response from the secretary of hud and others has been that the newer loans, the ones being in now, are going to be the ones that will sustain the fund going forward and the past ones are the ones that are really messing it up. all these loans are going to be cycled through. from what i am hearing, that is not what is happening here. mr. p
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